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Digital Biomarkers Market - Increasing Cost of Drug Development to Boost Its Growth

 

Digital biomarkers are the physiological and behavioral data collected by a body and can be quantified to be measured and analyzed through devices such as wearables, digestible, portables, and implantable. Biomarker discovery is an approach wherein experts from different fields collaborate and study the molecular structure of the body to understand and determine which specific molecular substances can be used to indicate the condition of the body i.e. which body is healthy and which is infected by a disease.

The aim of biomarker discovery programs is to identify molecular structures, study them to develop screening tests that can help identify the presence of disease on infection in those molecules and finally develop precise diagnostics tests for commercial use and purpose. In the past couple of years, discovery of several novel biomarkers has enabled researchers to identify a variety of cardiovascular events well in advance. There are different types of biomarkers, including diagnostic biomarkers and predictive biomarkers.

The role of diagnostic biomarkers is to accurately detect the disease. It helps in detecting cancer in a body through noninvasive ways and also supports secondary prevention of cancer. On the other hand, predictive biomarker predicts how a patient is likely to respond to a specific therapy being used for managing cancer. In addition, there is another type of biomarker known as prognostic. These biomarkers provide the clinical characteristics of the disease along with the possible path that the disease will take.

In the near future, the market for digital biomarkers is projected to increase. This growth is dependent on factors including explosion of wearable devices and increasing smartphone penetration, and increasing cost of drug development, among others. Based on the market research report published by BIS Research, “Global Digital Biomarkers Market - Analysis and Forecast, 2019-2025”, the digital biomarkers market is projected to grow at a CAGR of 40.39% during the forecast period from 2019 to 2025.

The digital biomarker market has been segmented on the basis of mode of data collection, applications, end-users, and region. North America, Europe, Asia-Pacific, Latin America and Rest-of-the-World (ROW) are the major regional segments of the market. In 2018, the region of Asia-pacific was the major contributor to the digital biomarker market and is expected to maintain its dominance throughout the forecast period.

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